More busy years ahead for PH property sector

THE Philippine property sector is in for more bullish years ahead, as developers will be busy on their big-ticket projects in the pipeline, online property-listing company Lamudi Philippines has observed.

Lamudi cited a few ambitious projects that would keep developers busy over the next few years.

First on the list is Ayala Land’s Alviera project, a mixed-used development that sits on a 1,100-hectare lot in Porac, Pampanga.

Lamudi considered the P90-billion project as “one of Ayala Land’s most ambitious projects to date.”

Alviera is currently undergoing Phase 1 of its development, which includes an industrial park, a country club, three residential communities and two academic institutions, namely, Miriam College and Holy Angel University.

Next on the list is SM Prime’s E-Com Center projects in the southern part of Metro Manila. Part of the project, the FiveE-Com Center, is opening this year, while three more towers will be in the works until 2019.

“SM Prime’s Mall of Asia (MOA) Complex is poised to become a business district in its own right,” noted Lamudi. “The country’s largest mall-developer already has two condo projects in the complex, three office towers, the country’s third largest mall, a convention center, and an indoor arena.”

Following SM Prime is the Andrew Tan-led Megaworld Corporation’s Westside City township in Parañaque City.

Touted to become the “Broadway of Asia,” Westside City is worth P65 billion and features a grand opera house, a shopping mall, a casino, and residential condominiums, well keeping up with the Bay City’s entertainment concept.

Meanwhile, a joint venture project between banking tycoon George Ty’s Federal Land and Ayala Land’s upscale subsidiary Alveo Land, makes it on the list as the two developers tie-up for a P1.9-billion mixed-use horizontal project on a 45-hectare land in Binan, Laguna.

Lamudi also includes Filinvest Land Inc. in the list, as the property firm bagged a contract to develop 288 hectares of prime land in Clark Green City, a part of the master-planned project of the government’s Bases Conversion and Development Authority (BCDA).

BCDA, Lamudi noted, has teamed up with the Home Development Mutual Fund (Pag-IBIG Fund) to build 2,000 affordable mixed-income housing units for the future employees of the Clark Green City.